BI Asset Management Fondsmaeglerselskab A S Has $22.81 Million Position in AppLovin Corporation $APP

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

BI Asset Management Fondsmaeglerselskab A S grew its holdings in AppLovin Corporation (NASDAQ:APP - Free Report) by 21.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,073 shares of the company's stock after buying an additional 15,398 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in AppLovin were worth $22,807,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Forum Financial Management LP boosted its stake in AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after buying an additional 33 shares during the last quarter. Vestcor Inc increased its holdings in shares of AppLovin by 0.8% in the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock valued at $1,088,000 after acquiring an additional 33 shares during the last quarter. GSG Advisors LLC boosted its position in shares of AppLovin by 0.3% in the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock valued at $2,820,000 after purchasing an additional 35 shares during the period. Argentarii LLC grew its stake in AppLovin by 1.5% during the 1st quarter. Argentarii LLC now owns 2,638 shares of the company's stock worth $699,000 after buying an additional 40 shares during the last quarter. Finally, Atlas Capital Advisors Inc. lifted its position in AppLovin by 11.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 394 shares of the company's stock worth $104,000 after acquiring an additional 40 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on APP shares. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Thursday, June 26th. The Goldman Sachs Group raised their price target on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Piper Sandler lifted their price objective on AppLovin from $470.00 to $500.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Benchmark reaffirmed a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. Finally, Morgan Stanley boosted their price target on AppLovin from $460.00 to $480.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and an average price target of $472.86.

AppLovin Stock Performance

Shares of NASDAQ:APP traded up $23.0390 during trading on Friday, hitting $441.7990. 5,496,130 shares of the company traded hands, compared to its average volume of 7,093,247. The stock has a market capitalization of $149.44 billion, a price-to-earnings ratio of 62.76, a PEG ratio of 2.31 and a beta of 2.43. The business's fifty day moving average is $373.84 and its 200-day moving average is $344.71. AppLovin Corporation has a one year low of $82.51 and a one year high of $525.15. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $0.89 EPS. The business's revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 125,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the sale, the director directly owned 7,283,292 shares in the company, valued at $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $464.69, for a total transaction of $92,938,000.00. Following the completion of the sale, the director owned 381,929 shares of the company's stock, valued at approximately $177,478,587.01. The trade was a 34.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 939,714 shares of company stock valued at $419,126,104. 13.66% of the stock is owned by insiders.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.